The prices of Bitcoin has reached a record high of $50,000 to become world’s number one crypto currency after some of the major financial institutions such as MasterCard, BNY Mellon and BlackRock had disclosed their plans to enter Cryptocurrency.
Over the past few days the world’s biggest Cryptocurrency traded at a price range of 49,950.93 giving it a market valuation of $930 billion.
With a staggering circulating supply of 18,630,131 Bitcoins, the Crypto currency will strike a market capitalization of $1 trillion at around $53,650 levels.
Mastercard said that it would support certain cryptocurrencies later this year,
It was reported over the weekend that Morgan Stanley MS,1.39% investment management unit, Counterpoint Global, were exploring buying cryptocurrency for its investors.
Roman Regelman, The Senior Executive Vice President and Chief Executive Officer of Asset Servicing and Head of Digital said:
“Digital assets are becoming part of the mainstream.”
Over the past 14 days the prices of Bitcoin have been on a rise nearly a 50% after some of the major company’s disclosed their plan to enter Crypto currency.
Recently the prices skyrocketed in a day after Tesla disclosing its 1.5 billion holdings in Bitcoin.
Sathvik Vishwanath The co-founder and CEO of Unocoin, a crypto exchange.
“In the last 24 hours, we saw the new all-time high in the price of bitcoin. This time the high cannot be attributed to a single source or news but more in terms of global demand.”
“This news was more in terms of looking at bitcoin as a mode of payment against how it happened during last week, where it was strongly getting considered as a hedge and asset class diversification.
